Property and Equipment

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Property and equipment, net consisted of the following (in thousands):


	As of December 31,
	2025			2024
Land	$	1,925		$	1,350
Buildings and building improvements		29,030			16,012
Leasehold improvements		15,241			9,439
Satellites in orbit		235,387			235,340
Lab, assembly, and integration equipment		95,334			41,693
Satellite antenna		7,224			7,224
Computer hardware and software		25,131			18,244
Other		1,999			1,421
Construction in progress
Satellite materials and advance payments, satellites under construction, and advance launch payments		1,122,027			120,984
Other construction in progress and capital advances		39,176			8,328
Total property and equipment, gross	$	1,572,472		$	460,035
Accumulated depreciation and amortization		(173,711	)		(122,366	)
Total property and equipment, net	$	1,398,761		$	337,669

Total depreciation and amortization expense for the years ended December 31, 2025, 2024 and 2023 was approximately $51.1 million, $63.3 million, and $54.5 million, respectively. During the years ended December 31, 2025, 2024 and 2023, the Company recognized losses on disposal of property and equipment of $4.6 million, $2.2 million and $0.1 million, respectively. These losses primarily relate to equipment retired from service and satellite materials removed from construction in progress as a result of design modifications and advances in manufacturing processes and technology.